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Slower economy, high prices boost demand for old cars

Wednesday, April 26, 2017 - 05:50

old cars.jpg
Last year, a record total of 44,303 COEs were revalidated, a 70.1 per cent spike from 2015's 26,052, according to Land Transport Authority data. The jump in renewals came from owners who extend their cars' COEs beyond 10 years instead of scrapping these vehicles.

Singapore

THE sluggish economy and high new car prices are forcing some motorists to turn to older and less expensive cars, say dealers, and this is keeping revalidations of car certificates of entitlement (COEs) high - something that isn't good news for subsequent COE quotas.

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